We will decide on interest rates at right time: Subbarao

NEW DELHI: The Reserve Bank is continuously monitoring the liquidity situation and would decide on its future course of action on interest rates at an appropriate time, said Mr D Subbarao, RBI Governor.

India's Growth To Bounce Back To 9% Next Year: Finance Minister

India's economic growth will bounce back to 9% next year despite adverse economic conditions, and the economy will record a very satisfactory growth this year, Finance Minister Palaniappan Chidambaram said Tuesday.

Steel Min asks for 10% import duty; SAIL denies prod cuts

Steel manufacturers have been asking for imposition of import duty on steel as China dumping continues to rise. The Steel Ministry has proposed to the Finance Ministry for a 10% duty to be imposed on steel imports and is hopeful of a solution soon.

Govt Doctors On Indefinite Strike In Karnataka

Around 5,000 doctors working under the Department of Health and Family Welfare in Karnataka have threatened to deepen their two-day-old agitation, by paralysing emergency as well as postmortem services in government hospitals across the State.

Tata Teleservices in talks with Japanese firm NTT DoCoMo

Tata Teleservices is understood to be in talks with Japan's largest telecom company NTT DoCoMo for a possible stake dilution of up to 26 per cent.

September industrial growth encouraging: FM

Finance Minister P Chidambaram today described the industrial growth of 4.8 per cent in September as encouraging, although he felt data collection methods needed an overhaul.

PM confident about 9% GDP 11.11.2008
PM confident about 9% GDP

Prime minister, Manmohan Singh is quite confident that the India will return to 9% growth route due to its inherent strength characterized by large size of markets, diversified industrial base and a dynamic private sector.

Manmohan Singh rules out immediate cut in fuel prices

The Prime Minister, Dr. Manmohan Singh, on Tuesday, ruled out any immediate cut of fuel prices, saying that such a measure could not be considered till oil PSUs stop making losses.

Raja swears by fair play, blames cartel for 'scam'

Under fire for fathering a Rs 60,000-crore scam, communications & IT minister A Raja hit back on Friday with all the ammunitions in his store. At a hastily convened press conference, Raja said that spectrum and licences were allocated to new playe...

Tata Motors To Stop Production at Jamshedpur for 3 Days

Tata Motors, one of the largest automobile manufacturer in India, has announced closing of the Jamshedpur plant owing to a demand slump. A company spokesperson said, "About 95 per cent of commercial vehicles are purchased through financing. While ...

SBI cuts rates, calls for liquidity; others may follow suit

The State Bank of India will cut lending rates by 75 bps with effect November 10, reports CNBC-TV18, quoting agencies. SBI will also cut deposit rate by up to 50 bps from December 1.

Foreign, private banks will consider rate cut: Fin Secretary

Foreign and private sector banks have assured the government that they would seriously consider reducing interest rates for personal and commercial loans. "They (heads of foreign and private banks) have assured that they would seriously examine re...

Religare to buy Lotus India AMC

Business Standard 04.11.2008
Religare to buy Lotus India AMC

Religare Enterprises today formally announced its intention to acquire a majority stake in Lotus India Asset Management Company (Lotus India AMC) from the majority shareholders Alexandra Fund Management, (an affiliate of Fullerton Fund manageme...

SBI to cut lending rates by 50 bps

India 04.11.2008
SBI to cut lending rates by 50 bps

State Bank of India (SBI), India's biggest commercial bank, may cut its lending rates by up to 50 basis points, its chairman said on Tuesday. "It has to be at least 25 bps. It could be 50 bps also," O.P. Bhatt told reporters in New Delhi. He said ...

ICICI Bank to review rates in a few days - CEO

ICICI Bank will review its interest rates in the next few days, after seeing the impact on liquidity of recent central bank steps, its chief executive said on Monday.

PM asks industry to refrain from job cuts

Business Standard 03.11.2008
PM asks industry to refrain from job cuts

Amid fears of job cuts in the face of global economic crisis spilling over to India, Prime Minister Manmohan Singh today asked the industry leaders to refrain from large scale layoffs.

India's growth will be protected: Manmohan

New Delhi: The Prime Minister, Manmohan Singh, on Monday said the country's growth and the financial system would be protected from the fallout of what he termed as an “unprecedented crisis” and “abnormal situation” in the global economy and asked...

Cabinet clears way for 49% FDI in insurance

The Economic Times 01.11.2008
Cabinet clears way for 49% FDI in insurance

NEW DELHI: After many years of debate, the government has decided to increase the foreign direct investment (FDI) limit in insurance firms from 26% to 49%. The government will now introduce a bill in Parliament to effect this change. The governmen...

Govt withdraws 15% export duty on steel

Business Standard 01.11.2008
Govt withdraws 15% export duty on steel

The government today withdrew the 15 per cent export duty on pig iron, iron and steel ingots, bars and rods, angles and sections. It also replaced the 15 per cent ad valorem export duty on iron ore fines. The export duty on scrap and iron ore lump...

Industry welcomes RBI move; but says more needed

NEW DELHI: India Inc today welcomed the RBI's move to inject about Rs 85,000 crore liquidity in the system through cuts in its short-term lending rate as well as key deposit requirements for banks, but said more is needed for benefits to be passed...

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